NSE Pharma: Abbott India, Biocon Turn Bullish
Two major NSE Pharma stocks, Abbott India and Biocon, saw their Altra Scores shift to Bullish, hinting at a potential sector-wide momentum play.
- Visit the stock pages: ABBOTINDIA, BIOCON
- Sector CNXPHARMA , which ranks #1 for Relative Strength (Altra Sector score of 91.0 with bullish regime.)
The NSE market has shown improving breadth recently, with the Altra Market score — a measure of overall market momentum based on the percentage of stocks trading above key Exponential Moving Averages (EMAs) — standing at 61.7. This indicates a favorable backdrop, albeit one that suggests selectivity. The market's advance/decline ratio of 25/25 and a +9.1 trend in the Altra Market score over 15 days further underscore this improving sentiment. However, with 68.0% of stocks above their 20-day EMA, 62.0% above their 50-day, and 58.0% above their 200-day EMA, the message is clear: breadth is expanding, but traders and investors should remain discerning, favoring high-quality setups.
Within this improving market environment, the Nifty Pharma sector has particularly distinguished itself. The Altra Sector score, which evaluates momentum across an entire industry group and ranks its relative strength against other sectors, places Pharma firmly at #1 with a robust 91.0 score, signaling a strong bullish trend for the segment. This makes the sector a 'Confirmed leader,' even as its relative strength RSI of 73.2 suggests it's cooling off slightly after a powerful run. Against this backdrop of sectorial strength, two key names, Abbott India and Biocon, recently transitioned to a bullish momentum status according to their individual Altra Scores, signaling potentially expanding participation within this leading sector.
Abbott India Ltd. (ABBOTINDIA)
Abbott India recently experienced a notable shift in its momentum profile, with its Altra Score — a comprehensive indicator ranging from 0 to 100 that combines EMA alignment and Relative Strength Index (RSI) trends across daily, weekly, and monthly timeframes — jumping from 47.9 (Neutral) to 68.5 (Bullish) on July 31, 2026. This significant move reflects strengthening underlying dynamics for the pharmaceutical giant.
Analyzing the technical indicators, Abbott India is now trading above its key EMAs, a classic sign of strength indicating that the stock's price is consistently holding above its recent average. Furthermore, the stock registered a bullish Weekly EMA Crossover on July 28, 2026. This type of crossover often signals a robust shift in the longer-term trend, suggesting sustained upward pressure. The stock's momentum is also 'top-down aligned,' meaning that its daily, weekly, and monthly momentum indicators are all pointing in a constructive direction, reinforcing the bullish signal. While its daily RSI stands at 54.94 and weekly at 54.45, both in healthy, non-overbought territory, the monthly RSI at 45.42 indicates there may be further room for momentum to build over the longer horizon. Given the Nifty Pharma sector's top-ranked status and confirmed leadership, Abbott India's bullish turn could be a significant development within an already strong segment.
Biocon Ltd. (BIOCON)
Biocon also contributed to the Nifty Pharma sector's momentum narrative, with its Altra Score moving from 59.2 (Neutral) to 64.4 (Bullish) on July 31, 2026. This positive shift adds another layer of strength to the sector, indicating broader participation in its upward trend.
Like Abbott India, Biocon is currently positioned above its key EMAs, reflecting a stable and positive price action. It also exhibits 'top-down aligned' momentum, suggesting consistency across different timeframes. While its recent score increase reinforces the bullish view, Biocon had already established a bullish trend earlier in the year, evidenced by a bullish Weekly EMA Crossover on May 15, 2026. This indicates that the stock has been building momentum for some time, with the latest score update confirming and extending this positive trajectory. The RSI readings for Biocon show a daily RSI of 49.55, a weekly RSI of 59.6, and a monthly RSI of 64.79. The weekly and monthly RSIs, in particular, highlight a healthy and well-established momentum trend, suggesting that the stock has strong internal strength. As the Nifty Pharma sector maintains its position as the top-ranked segment, Biocon's continued bullish momentum underscores the sector's overall resilience and strength, making it a name to observe within this leading group.
What is the Altra Score? The Altra Score is AltraOne's proprietary momentum score for individual stocks, ranging from 0 to 100. It measures EMA structure and RSI momentum across multiple timeframes. A score above 60 is Bullish, below 40 is Bearish, and 40–60 is Neutral. The score is updated every trading day after market close based on end-of-day data.
Explore the full Signal History on AltraOne to see every EMA crossover signal across your watchlist — going back 52 weeks. The weekly EMA crossover is AltraOne's highest-conviction intermediate momentum signal; the Signal History page lets you track how these have played out over time.
Altra Score is a momentum indicator reflecting EMA alignment and RSI trend across daily, weekly, and monthly timeframes. It is not investment advice. Past momentum does not guarantee future performance. Please consult a SEBI-registered advisor before making investment decisions.